On March 31, 2026, the Commissioners Court, pursuant to and in accordance with the terms, provisions, and requirements of the Public Improvement District Assessment Act, Chapter 372, Texas Local Government Code (the “PID Act”), established the Turners Crossing Public Improvement District (the “District”) through a resolution adopted by the Commissioners Court. The purpose of the District is to finance the actual costs of authorized improvements that confer a special benefit on the property located within the District. On July 7, 2026, TCDA, the County, and 706 Partnership, Ltd., as the “Managing Developer” entered into the “Lagos Reserve Public Improvement District Financing Agreement”, as amended, which relates to the construction of the authorized improvements within the District (the “Authorized Improvements”), the maintenance of the Authorized Improvements, and the payment or reimbursement of the actual costs of the Authorized Improvements with proceeds of bonds or special assessment revenues. On June 24, 2026, as revised on July 6, 2026, the Managing Developer submitted a request for the levy of assessments for Improvement Area #1A and #1B of the District. A copy of the July 6, 2026 revised request, attached as backup, reflects an assessment levy request of approximately $16,000,000 for Improvement Area 1A and $392,000 for Improvement Area #1B. Before assessments may be levied, the County’s PID Policy (effective prior to February 1, 2024, and as applicable here) requires that developers pay a PID community benefit fee if a PID does not provide on-site affordable housing. In lieu of the Community Benefit Fee, the Managing Developer will donate a 25-acre parcel (the “Community Benefit Site”), to the County. As detailed in the Financing Agreement, following the initial levy of assessments, the Managing Developer agrees to convey to the County the Community Benefit Site, at no cost to the County, free of all liens, encumbrances, and title defects that are unacceptable to the County, to be credited toward the PID Community Benefit Fee. On July 14, 2026, the Commissioners Court approved setting a public hearing date for July 28, 2026 to consider an order levying assessments on property within Improvement Area #1A and #1B of the District (the “Assessments”). The PID Act requires that a public hearing be held before assessments can be levied against the assessable property within the District. The proposed assessment roll for Improvement Area #1A and #1B is on file with the Travis County Tax Assessor-Collector’s Office. A notice of public hearing was mailed to the landowners on July 16, 2026, and notice was published in the Austin American Statesman on June 30, 2026.